DealersEdge Professional Forums

Hello all,

I have two questions one is we have an internal body shop and when we are using the bump program with GM and it's one we have to do manually we are lowering our cost to what the lowest price is on the calculator and selling it for what is on the insurance estimate. Is this how other people are doing it or do some of you do it differently.

Second question how are some of you coding the GM invoices when you get them with bump the competition and mars on them?

I do not touch cost. I show a loss on the cost then when I get the GM invoice I put the (less than cost difference) back into 242 and the remainder I put to 687 as profit.
I guess to each their own but I don't play with cost unless its a radio or something not from GM

Rykid50 wrote:I do not touch cost. I show a loss on the cost then when I get the GM invoice I put the (less than cost difference) back into 242 and the remainder I put to 687 as profit.
I guess to each their own but I don't play with cost unless its a radio or something not from GM

If you do not touch cost at the time of sale then there is nothing to put back into 242 when you get reimbursed...

I just put the reimbursement to 687 as profit that is not split with our Body Shop.

JeepGuy wrote:

Rykid50 wrote:I do not touch cost. I show a loss on the cost then when I get the GM invoice I put the (less than cost difference) back into 242 and the remainder I put to 687 as profit.
I guess to each their own but I don't play with cost unless its a radio or something not from GM

If you do not touch cost at the time of sale then there is nothing to put back into 242 when you get reimbursed...

I just put the reimbursement to 687 as profit that is not split with our Body Shop.

That's how I do it also.

nbeckhart23 wrote:Hello all,

I have two questions one is we have an internal body shop and when we are using the bump program with GM and it's one we have to do manually we are lowering our cost to what the lowest price is on the calculator and selling it for what is on the insurance estimate. Is this how other people are doing it or do some of you do it differently.

Second question how are some of you coding the GM invoices when you get them with bump the competition and mars on them?

We do not change/alter cost on invoices and put BTC reimbursements to 683.

I'd like some input from other parts managers on this subject to see how you handle this.. I for one do as Rykid50 does... put what was shown as a loss when billed out back to 242 and then whats left to 487/687 ..... TIA

I take the loss up front on the RO sale then credit what I get back on my GM Invoice to 68700.

Exactly ! If you leave the cost alone when you invoice the part(s), and end up selling BELOW COST, then you are realizing a NEGATIVE GROSS PROFIT on that particular part on that invoice. When you get the credit, you put the credit back to 687 as additional GROSS. The inventory cost-of-sale is realized when you invoice it, keeping your inventory whole.

We are a wholesale dealer that does a lot of collision, we also have an inside body shop. Weather we sell it to an outside shop or our own shop, we adjust the cost to the end cost after the reimbursement. Our DP is big on being able to track gross profit percentages. If you sell the parts with out changing the cost, even though you put the money back into the parts department when you get your statement, you can tell how much you made on which job. As far as wholesale customers you would never be able to figure out the gross profit of individual accounts. I usually agree totally that you shouldn't touch cost, this is my only exception. When we get reimbursed I put the money back to 242, that makes the inventory whole again.